Oil Production Revival Helps Libyans Look to the Future

A reporter traveling through countries of the Arab Spring, recently arrived in Libya and found that country’s oil is once again flowing.

He found that Libya’s oil industry is now back up to 90 percent of its pre-war production, earning the income that gives many Libyans confidence that, despite hardship, they do have a shot at a better future.

2 COMMENTS

“they do have a shot at a better future”… yeah, if western bankers/oil corps are any example there will be no more universal health care, no free college, or housing for all. Every bit of extra profit will be extracted from Libya and taken by the oil corps. The bankers will make sure all oil payments are only done in dollars and minimal support of any ‘African Union’. Can’t have competition – unless you own all the players.“Freedom” – western style!

There is no doubt that the Libyan people will reap great benefit from huge oil reserves under their feet. (Unlike the plundering of resources under their late dictator.)

In April, the government confirmed that the country would be looking to hand out new contracts, and Libya would both upgrade and expand its oil and gas production facilities. “There would be an increased, “extensive” exploration program, with major investment put into developing Libyan human resources in the industry.”

“The country also intended to ensure transparency in the oil industry’s dealings.”

Libya needs technical expertise of companies in friendly countries. There is likely no real evidence of such cynical speculation.